Acquisition Reserves

In connection with the Company’s acquisition of Corporate Express N.V. ("Corporate Express"), acquisition reserves of $181.0 million were originally established. The activity related to this reserve for fiscal 2011 and 2012 is as follows (in thousands):



	Balance as of January 29, 2011		Utilization			Foreign Exchange Fluctuations		Balance as of April 30, 2011
Transaction costs	$	543	$	(119	)	$	—	$	424
Severance	11,793		(2,055		)	607		10,345
Facility closures	20,287		(928		)	65		19,424
Other	9,344		(313		)	482		9,513
Total	$	41,967	$	(3,415	)	$	1,154	$	39,706



	Balance as of January 28, 2012		Utilization			Foreign Exchange Fluctuations		Balance as of April 28, 2012
Severance	$	1,691	$	(54	)	$	12	$	1,649
Facility closures	15,761		(534		)	2		15,229
Other	6,340		(32		)	29		6,337
Total	$	23,792	$	(620	)	$	43	$	23,215

The majority of the reserves have been substantially utilized with the exception of certain payments related to facility closures that will be made over the remaining lease terms and certain other obligations related to the integration of the business.